An aggressive drilling program by Adrian Resources (TSE) is under way on the company’s land package in Panama. Results are expected shortly for 19 holes drilled to date, totaling 3,500 metres.
The Petaquilla project, in which Adrian holds rights for 52% and Metall Mining (TSE) holds the remaining 48% interest, includes seven deposits with a total geological resource of 1.6 billion tons grading 0.48% copper and 0.126 grams gold per ton. Recent infill drilling included 14 holes on five of the deposits.
A new copper target is identified from prospecting and geophysics one kilometre north of the Botija deposit. A detailed soil sampling survey over the 200-metre by 500-metre area will outline potential drill sites. Drilling on the Belencillo property included two holes. Madison Enterprises (VSE) holds an option to acquire a half interest in the property. Three holes were drilled on the La Esperanza property with Silverstone Resources (VSE) holding an option to earn a half interest.
Exploration continues on the Oro del Norte property to outline a 25-square-kilometre copper-gold target. Numerous samples exceed 0.5% copper and 1 gram gold with values as high as 2.5% copper and 43 grams gold. The property is expected to be drilled by year-end.
Two areas of interest are identified on the Santa Lucia property, a 12-km contact zone of the Petaquilla batholith and an area around the newly located Santa Lucia gold mine. Silt sampling along the contact zone returned values as high as 18.1 grams gold and preliminary sampling from the historic mine site returned values up to 8.3 grams.
Arlo Resources (VSE) holds an option to earn a half interest in both the Oro del Norte and Santa Lucia properties.
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